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Sri Lanka's footwear and leather sector has shown a remarkable growth in the last year with exports surging over 63% from the previous year.
The total Leather and Leather Product exports stood at US$51 million in 2013 increasing 63.5% from the US$31.2 million earned in the previous year.
"Our footwear and leather exports have shown a strong growth trend," Minister of Industry and Commerce Rishad Bathiyutheen said on February 7 addressing the inauguration of the sixth edition of the Sri Lanka Footwear and Leather Fair at the BMICH.
The 2014 exhibition, which was held from February 7-9 is organized by Sri Lanka Export Development Board in collaboration with the Ministry of Industry and Commerce, Industrial Development Board and Footwear and the Leather Products Manufacturers Association.
Minister Bathiyutheen said the event is a strong platform for networking and market diversification for Sri Lankan stakeholders.
"What is more interesting is that this event is also taking place at a time when our footwear and leather exports are showing a strong growth trend.”
Foreign buyers from Egypt, Korea, Kenya, Seychelles, France, Germany, India, and a delegation from Iran participated at this year's event. Also, 19 Indian exhibitors from the Indian Footwear Component Manufactures Association (IFCOMA) showcased their products.
Speaking at the inauguration ceremony, Sri Lanka Export Development Board Chairman and CEO, Bandula Egodage said the industry makes a significant contribution to the Sri Lankan economy by earning foreign currency income.